Airlines & Lessors

The Civil Aviation Authority of Vietnam (CAAV) has granted an air operator’s certificate (AOC) for startup Vietstar Airlines.

Icelandair Group has sold a 75% stake in Icelandair Hotels and related real estate to Berjaya Property Ireland, a subsidiary of Malaysia-based Berjaya Land Berhad.

Dublin-based aircraft lessor SMBC Aviation Capital is spinning off part of its portfolio into a new fund, aimed specifically at Japanese investors.

China Southern Airlines is joining the trend toward provincial and local government investment in Chinese commercial air transportation, accepting capital from authorities in and around its home base, Guangzhou.

A timetable has been set for applicants to bid for the remaining assets of India’s Jet Airways as the bankruptcy process begins.

Italian infrastructure group Atlantia is set to join the consortium of investors led by railway company Ferrovie dello Stato (FS) to rescue Alitalia, paving the way to relaunch the Italian flag carrier, more than two years after filing for bankruptcy.

Dallas/Fort Worth-based American Airlines and Australian flag carrier Qantas have received final approval from the US Department of Transportation (DOT) to operate a joint venture between the US and Australasia.

Hong Kong flag carrier Cathay Pacific Airways has completed the acquisition of LCC HK Express, which is now a wholly owned subsidiary of the oneworld member.

Lufthansa subsidiary Austrian Airlines is set to renew its narrowbody fleet by replacing 18 Bombardier Dash 8 Q400s with 10 Airbus A320s.

Singapore LCC Scoot will move operations from Changi International Airport's Terminal 2 to Terminal 1 as part of plans to support the airline’s growth over the next few years.

Hong Kong’s largest carrier Cathay Pacific Airways reported a 6% year-over-year (YOY) increase in passengers carried for June, to 3.1 million, despite the ongoing protests and civil unrest in Hong Kong that deterred potential Asian travelers from flying into the territory.

UK LCC easyJet reported a 11.4% revenue increase to £1.8 billion ($2.2 billion) in a trading update for the third quarter ended June 30.

The British Airline Pilots Association (BALPA) union plans to ballot Ryanair’s UK pilots on possible industrial action, after failing to reach an agreement on pay structures and benefits.

Ryanair COO Peter Bellew, who recently resigned from the position at the Irish LCC, will join easyJet as COO, a development that was revealed as part of the UK LCC’s third-quarter trading update.

Philippine Airlines (PAL) has made a significant change in its leadership structure as the flag carrier seeks a new president to run the airline.

United Air Lines reported a second-quarter net income of $1.1 billion, up 54% year-over-year (YOY).

El Al Israel Airlines will retire its remaining three Boeing 747-400s by the end of October, the carrier said July 16.

Singapore-based lessor BOC Aviation has agreed to sell a portfolio of 17 aircraft to Silver Aircraft Lease Investment and affiliates (SLVRR 2019-1).

Finnair posted a €31.2 million ($35 million) second-quarter net profit, reversing a €15.5 million net loss for the comparable period in 2018.

China’s Zhejiang Loong Airlines (Loong Air) officially opened its northwest branch in Xi’an, Shanxi province July 17.

AirAsia is trying boost its cargo and logistics business by investing in and partnering with a Malaysia-based e-commerce and parcel delivery company.

Aircraft Briefs-July 16, 2019

Irish LCC Ryanair will shrink or close poorly performing bases and cut staff as a direct result of the lack of Boeing 737 MAX deliveries, the company said July 16.

Vietnam Airlines reported a VND1.8 trillion ($77.5 million) pre-tax profit for the first half of 2019, up 21.8% year-over-year (YOY) and 13.6% above its planned profit.

Reunion-based Air Austral has posted a €4.5 million ($5.1 million) full-year net loss, its first loss in five years.